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Define "early". Like, initial investors when it went public 20+ years ago?
Do you have a link of this list? Who's to say any early big name investors didn't get out long ago?
Monroe1 Member Level Thursday, 06/14/18 08:56:01 AM
Re: flaflyersfan post# 100938 0
Post # of 100945
Have you ever seen the early list of investors? You will recognize many names of folks well known in the business world. Do some real DD.
That's quite an imagination. My opinion is that they have continued to do nothing. My opinion is they have gone in hiding. My opinion is that this will be summarily revoked very soon and this board and the other one can shut down these groups that have people that continue to try to push some outlandish scenarios where this paper company can actually obtain financing to procure hundred million dollar airplanes and all the associated corporate infrastructure to go with it.
I can only imagine....
Monroe1 Member Level Tuesday, 06/12/18 07:26:45 PM
Re: None 0
Post # of 100917
prehearing conference shall be held by telephone on July 20, 2018, at 10:00a.m. EDT, if the proceeding has
not been resolved by then."
I very much imagine they are in dialog.
They were “close” to providing financials over 6 months ago, if you believe Tony’s Nov 30 shareholder letter.
It’s no longer a matter of them simply getting current, but they have to “show cause” as to why they fell so far behind. Not having money to pay an auditor is not going to be a good enough reason - if they even respond to the “order to show cause” by 6/15.
Monroe1 said:
They should be close to providing the financials. What happens God only knows. $$BLTA$$ hopefully.
Friday is the deadline for the company to show cause. It is not a hearing.
July 20 is a telephone only pre-hearing.
https://www.sec.gov/alj/aljorders/2018/ap-5752.pdf
As of May 24:
"To date, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., have each failed to file an Answer within the time provided"
"Accordingly, Baltia Air..., are each ORDERED TO SHOW CAUSE, by June 15, 2018, why it should not be deemed to be in default and the registration of its securities revoked"
"IT IS FURTHER ORDERED that the hearing is POSTPONED sine die, and a prehearing conference shall be held by telephone on July 20, 2018, at 10:00a.m. EDT, if the proceeding has
not been resolved by then."
AKthisistheone Tuesday, 06/12/18 05:46:56 PM
Re: Robodog post# 100903 0
Post # of 100905
Show cause is this Friday.
Telephone call july 15.
Your "fact" is an opinion, and a misinformed one at that. There have been several posts on this board that have shown you that the SEC has, in fact, suspended after 2 years delinquency. Baltia is not the only one. And even if they were, that's immaterial. Baltia has been chronically delinquent.
Whistleblowers could very well have been shareholders who felt that the company wasn't being transparent with the financials. I know for a fact there were several current shareholders who told me they did so. Why would someone waste time complaining to the SEC about a stock they've never owned?
Whether or not Tony and company had intent to defraud is to be determined. A civil, and possibly criminal, court would be the place to determine this. Right now, it is overwhelmingly evident and proven they have repeatedly failed to file the legally mandated SEC reports and are being penalized accordingly, and in line with the law.
Thanks for the definition of order to show cause, but as of now - there is no proof or documentation that Baltia has responded to the "Order to Show Cause" [noun].
As of May 24, the SEC stated that Baltia has not responded to the suspension notice. Granted that's been about 2 weeks, so maybe someone at HQ woke up. We shall learn soon enough.
Monroe1 Member Level Tuesday, 06/12/18 05:41:53 PM
Re: phl08 post# 100900 0
Post # of 100902
Fact is fact. SEC was gung ho like never seen before. As said, it was the CEO responsibility. Business can be tough and yes, we do fall victim to problems and to others trying to self reward at the expense of others. Those WhistleBlowers could careless about the company or investors. So we disagree over the issue of intent it seems. I do not believe there was intent to defraud or scam. I believe the CEO had for all intensive purposes the making of an airline.
{In the legal system, an Order to Show Cause is a court order requiring an individual or entity to explain, justify, or prove something. In the U.S., courts frequently use orders to show cause to initiate a court proceeding that needs to be heard outside the usual schedule, such as when a temporary order is being sought. In these cases, the court needs additional information before the judge could make such a decision. To explore this concept, consider the following Order to Show Cause definition.
Definition of Order to Show Cause
Noun
An order issued by the court that a party appear in court on a specified date and time to give reasons (show cause) why an order requested by the opposing party should not be made.}
Yes, the CEO is responsible, 100%.
So there's no need to even continue to try and somehow make Tony look like a victim with your rant against a "gung ho SEC". They acted as they're expected, and admirably. Any whistleblowers who prodded them along to look at this money pit were more than justified in putting a stop to this sham of a company.
He also did not, proverbially, get caught with his pants down. He was well aware of the pending outcome 60 days in advance of the May suspension. He was warned. He knew the financials were not only severely delinquent, but that he had not lived up to a promise to shareholders to release them "soon", as stated on November 30, 2017.
Oh, and there is no "Show Cause" hearing that you keep bringing up. There is a deadline (3 days from now). If they haven't shown cause, the pre-hearing on 7/20 will be quick and swift.
Monroe1 Member Level Tuesday, 06/12/18 04:33:07 PM
Re: Pennywize post# 100898 0
Post # of 100899
Many times I have addressed this. The buck stops with the CEO whether to sign off on a CPA, attorney work product or any other material from management.
The CEO was late. Totally his responsibility. Was he timing the release of financials to coincide with an update on another deal? I think so. He was pre-empted by a gung ho SEC drinking too much Red Bull and prodded by WhistleBlowers wanting to make a killing... yes, they were late and forewarned. Yes, the SEC acted out of norm...way out. So he got caught with this pants down. His fault.
Ship happens. So let see if he crawls out of the hole and gets a positive outcome from the Show Cause Hearing. They could well do this as the financials were supposedly practically completed but held up do to other litigation. Will Whales come to the rescue and pay a few thousand for the accounting?
Correct. There will be an SEC telephone pre-hearing on July 20 if the matter has not been resolved, so I’m not thinking revocation will come soon after 6/15 if nothing has been provided by BLTA. Unless I misinterpreted the 5/24 SEC notice differently.
They have not shown cause, so there is no lie to be heard (yet). And of course it's not illegal for the press to lie. Never said it is. I said it's also NOT illegal for Lyin Lampl,...or POTUS or the Pope to lie to the press either.
You haven't answered the question I challenged you with, .you simply deflected..... what "looks" like we may actually see those financials"?
Monroe1 Member Level Monday, 06/11/18 04:43:14 PM
Re: phl08 post# 100868 0
Post # of 100873
Show Cause is not a Lie. Twistin twisten, twisten my time away. Oh an by the way, it is not illegal for the press to lie.
Care to elaborate? What "looks" like we may see them? Specifically, what do you see as any kind of indication from the company that we "may actually see those financials"?
To be clear - they have not made any official remarks at all since the suspension. To date, they have made 2 non official remarks:
1.)
Following the suspension, Lyin Lampl was quoted in a Hudson news article that the suspension was a surprise to them. That was a clear lie since they were given 60 days notice that this would happen. But it's not illegal to lie to the press.
1.)
Following the suspension, Baltia put a 1 paragraph update on their web site:
"Baltia Airlines, Inc. dba USGlobal Airways is cooperating with the SEC and working on all fronts to rectify the trading suspension. The restatement of previous years' financials and ongoing legacy legal proceedings have caused a delay in providing completed audited financials. Our goal is to complete this process as quickly as possible. We will keep our shareholders updated as to our progress in getting the trading suspension lifted.". Another lie. 2 weeks after this web site update, the SEC on 5/24/18 publicly and officially stated that Baltia did not respond to the suspension notice. But it's not illegal to put false information on a web site.
They have not published any official PR or SEC document about any of this.
Their web site also says "USGLOBAL AIRWAYS IS CURRENTLY UNDERGOING FAA AIR CARRIER CERTIFICATION". That's also not true, any more. There is no certification application in place, nor is there a plane. Their web site, hosted on GoDaddy.com - a $20/month web hosting provider that is among the worst out there - was thrown up as a bone to stir the pot of bottom feeders last year.
Monday, 06/11/18 10:42:30 AM
Re: rab74 post# 100858 0
Post # of 100867
Looks as if we may actually see those financials.
It's a template. That letter will be almost word for word with Baltia's name when they finally get called to the carpet for this nonsense they've been pedaling for 30 years.
Bet on it...
rab74 Sunday, 06/10/18 12:46:51 PM
Re: Anvil post# 100848 0
Post # of 100855
How this BS relates to BLTA?
Doubtful. Someone was able to find a buyer for their ~$3300 worth of worthless shares.
I would love the company to continue, but have lost complete confidence in the management team to do it.
Monroe1 Member Level Friday, 06/08/18 12:45:29 AM
Re: phl08 post# 100792 0
Post # of 100805
but you are in the minority for most here want the company to continue as they have money invested. Only shorters or Whistle Blowers wanting to collect from the SEC program would want the company to fail.
I may win the powerball tomorrow. Means could or perhaps. Maybe yes, maybe no.
I'm reasonably certain that I'm in the majority of those who don't believe BLTA will show cause, let alone even respond to the SEC. Otherwise they would have before May when they knew a clock was ticking on them. They've been silent and completely out their league for too long. I'll go out on a limb as to say they've already checked out and are probably using any money they have left to find a legal team who will defend them in the law suits that "may" start trickling in.
Monroe1 Member Level Thursday, 06/07/18 02:42:25 PM
Re: FlyBaltia747 post# 100790 0
Post # of 100791
Someone on the other end seems to like the price. What does that mean? Means someone may make a killing. By the way, may means could or perhaps. Maybe yes, maybe no. Could be an insider who knows something? Has anyone ever considered they may actually Show Good Cause????
The can show cause any time up until the deadline. But you seemed to suggest they HAVE shown cause when I asked you two basic questions (which you really haven't answered at all).
What has the company done to show it's attempting to survive? There has not been a single public display of any effort of any kind in 6 months.
And can you point to a public document that shows they have "contested the original suspension and accepted the suspension"?
You replied to those 2 questions with only "Duh, show cause..hello?" as if to say that's what they have done to show they're attempting to survive. They aren't. They haven't done anything to show they care or are trying to survive for many months now.
I would like to know what makes you think they contested the original (May 10) suspension when they didn't even respond to the SEC in the 10 business days following.
And what do you think will take place at the pre-hearing phone conference on July 20 if they still have not responded to the SEC by then? What do you think will happen if BLTA doesn't even attend that conference? What gives you the faith that they will pull a rabbit out of the hat in the last hour when they've literally shown NO indication of resolving the delinquencies other than begging shareholders for money to pay auditors?
Monroe1 Member Level Thursday, 06/07/18 07:24:38 AM
Re: phl08 post# 100778 0
Post # of 100786
How can the Show Cause when that proceeding has not yet arrived?
Monroe1 Member Level Thursday, 06/07/18 07:21:58 AM
Re: Robodog post# 100764 0
Post # of 100786
I will stop after the Show Cause. It could be as late as August before we know for sure. Baltia Whistle Blowers collect from the SEC. SEC Whistle Blower program payments do not come from any company so it does not matter if Baltia is broke or not.
So why throw in the towel if the company has not yet?
It is not what makes me think they will turn things around, rather they are attempting to survive. If not, they would have not contested the original suspension and accepted the suspension.
Like stated before, we are comatose but still breathing. There is a chance Baltia prevails in Show Cause. To say for certain anyone knows the outcome is a bit hasty. Doesn't look good but we have to wait to know for certain.
Do you mean this SEC document?
https://www.sec.gov/alj/aljorders/2018/ap-5752.pdf
It's the last public document we have that indicates BLTA has done NOTHING to address this, as of May 24, 2018.
Each Respondent was served with the OIP on May 10, 2018, by USPS Express Mail delivery or attempted delivery at “the most recent address shown on [its] most recent filing with the Commission.”
To date, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., have each failed to file an Answer within the time provided.
Accordingly, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., are each ORDERED TO SHOW CAUSE, by June 15, 2018, why it should not be deemed to be in default and the registration of its securities revoked.
IT IS FURTHER ORDERED that the hearing is POSTPONED sine die, and a prehearing conference shall be held by telephone on July 20, 2018, at 10:00 a.m. EDT, if the proceeding has not been resolved by then.
To paraphrase.... as of 5/24, Baltia has NOT shown cause. Baltia has until 6/15 to show cause. If they do not show cause, the 7/20 telephone conference will be the final nail in the coffin. There will be no 7/20 conference if they do something to "resolve" their severe delinquencies.
Monroe1 Member Level Wednesday, 06/06/18 09:36:25 PM
Re: mysterymeat post# 100773 0
Post # of 100779
Did you not see the Show Cause proceeding from the SEC. It was posted many times. If not resolved by the date in July,,, then a pre conference phone conversation will take place. It is all in the public document.
There is nothing confirming a response after receiving the letter. In fact, the SEC stated on May 24 that Baltia did *NOT* respond.
Monroe1 Member Level Wednesday, 06/06/18 10:03:37 PM
Re: AKthisistheone post# 100775 0
Post # of 100778
Oh come on now.
First of all they responded after receiving a proceedings letter,
Thanks for the very informed answer.
They have not shown cause. They have not responded to the SEC. They have not done a dag-nabbit thing other than spew a few words to the Hudson newspaper reporter on the day the suspension took hold.
So back to my last questions that you deflected and failed to answer:
1. What has the company done to show it's attempting to survive? There has not been a single public display of any effort of any kind in 6 months.
2. Can you point to a public document that shows they have "contested the original suspension and accepted the suspension"?
Monroe1 Member Level Wednesday, 06/06/18 08:03:42 PM
Re: phl08 post# 100769 0
Post # of 100777
duhh, Show Cause. Hello.
What has the company done to show it's attempting to survive? There has not been a single public display of any effort of any kind in 6 months.
And can you point to a public document that shows they have "contested the original suspension and accepted the suspension"?
A blurb on the front page of their web site doesn't count. I'm talking about an official document like an 8K or press release.
And I don't mean an interview with few off the cuff comments from Lyin Lampl, either. Lying to the press is not a crime. Knowingly publishing incorrect information in an 8K is a crime. So where are the 8K's showing material changes in the past 6 months?
Monroe1 Member Level Wednesday, 06/06/18 06:29:06 PM
Re: Robodog post# 100764 0
Post # of 100768
It is not what makes me think they will turn things around, rather they are attempting to survive. If not, they would have not contested the original suspension and accepted the suspension.
Like stated before, we are comatose but still breathing. Many want to just pull the plug. There is a chance Baltia prevails in Show Cause. What then sayeth the naysayer?
It's a huge leap of faith for you to believe your first sentence.
If the "Millions invested by some big players" were an issue, where were they when Tony needed $20K to pay the $110K auditor bill 6 months ago?
"Most Likely", the financials will be submitted? What makes you believe that when they couldn't get them filed prior the suspension and even when they knew in March what was going to happen 60 days from the date they received the SEC letter?
I am curious though - what company have you witnessed get suspended, slapped down to the greys, revoked registration and ultimately re-list and resume trading *AND* start generating revenue?
Monroe1 Member Level Wednesday, 06/06/18 01:31:49 PM
Re: Monroe1 post# 100756 0
Post # of 100762
Baltia will survive one way or the other. Twice before I witnessed something very similar. Millions invested by some big players are not going to go down forever. Most likely the financials will be submitted at Show Cause or before. If not, the re org will take place
We can keep pressing for answers, but he's probably been advised by legal council (or whatever version of legal advice he can afford) to stay quiet until the SEC issues are resolved. If this goes to revocation after next week, let the law suits begin.
Asterixus Wednesday, 06/06/18 12:45:16 AM
Re: None 0
Post # of 100753
Hey yo Tony
Stockholders who are also partial company owners have a vested interest in knowing what is going on behind this veil of silence.
There's no question that there are believers with cash to throw away.
May 8 - Suspension begins, BLTA posts message saying they are "cooperating with the SEC" blah blah blah
May 24 - SEC states that BLTA has NOT responded to the suspension notice, delivered by USPS Express Mail on 2 weeks prior (May 10) to their business address
Let's look at the last sentence of the current web site blurb more closely:"The restatement of previous years' financials and ongoing legacy legal proceedings have caused a delay in providing completed audited financials."
And compare that to the statement Tony made on November 30, 2017:
" the company has nonetheless been able to complete the 2015 and 2016 audits which we are striving to release soon."
They can't even keep up with their own lies any more. They haven't responded to the SEC, but they are cooperating. Ok. The financials are complete, but wait - legal proceedings are causing a delay in providing them?
What's next? Are they going to tell us they entered into a merger agreement with Delta Airlines only to tell us 2 weeks later that they decided it wasn't in the best interest of the company?
Monroe1 Member Level Thursday, 05/31/18 11:54:19 AM
Re: phl08 post# 100621 0
Post # of 100626
"Baltia Airlines, Inc. dba USGlobal Airways is cooperating with the SEC and working on all fronts to rectify the trading suspension. The restatement of previous years' financials and ongoing legacy legal proceedings have caused a delay in providing completed audited financials.
We're almost tied with Spiloci's GPA in Fast Times at Ridgement High.... "Zero...point...Zero"....
It seems that Tony did an interview with a NY broadcast news outlet before the suspension was announced. I don't know anything of the substance of the interview, but I do look forward to seeing the story when it's finally broadcast (date unknown..stay tuned).
I'm glad he has time to sit down with a media outlet but he fails to put out one official piece of information to his shareholders, let alone any SEC mandated filings for several years.
It's not old news that they continue to ignore their basic obligation of providing financial transparency to their investors. You keep giving them a pass on this neglect. Had they done this, then maybe all the great things you envision could have happened.
Since you're encouraging people to bottom feed and accumulate, maybe you can share info on what broker you've found that's able to find sellers for your buy order so we can all jump into this.
Monroe1 Member Level Friday, 05/25/18 11:13:04 AM
Re: phl08 post# 100395 0
Post # of 100400
yes yes yes, ok that is old news circulating time and again How repetitive. The hearing is scheduled. End of story. This is the pps level where the bold can be rewarded big time. I love bottom fishing during a rain storm like we have here. That is when the fish are biting.
Just over a year ago, the financial audits were promised in a very public SHM in front of shareholders, local business leaders and politicians.
On November 30, In the wake of the failed Songbird acquisition, Tony told shareholders via a letter:
"the company has nonetheless been able to complete the 2015 and 2016 audits which we are striving to release soon". Most would reasonably agree that "Soon" is not 6 months.
https://www.usglobal.com/latest-news
His mouthpiece, Lyin Lampl, has said in a few press interviews that the company couldn't finish the deal due to the inability to raise money. Other posters on this and the other stock forum were personally contacted for assistance just to come up with the money to pay for the audits. Some have stated that the company had no idea what they were doing when trying to leverage what few assets they have to finance growth. But without audited financials, who in their right mind would put anything into this?? Their well dried up.
In March the SEC sent BLTA notice of suspension, yet 2 months later when it actually happened Lyin' Lampl told the press this event took them off guard. He likened it to a credit card being frozen for nonpayment, which by the way is something that usually doesn't catch one off guard. Clearly a load of BS and the reporter of that story should have taken him to task on it.
And now this - the SEC is on record saying as of May 24 - 14 days since the SEC notified them in a May 10 letter advising of Order Instituting Proceedings - BLTA has not responded.
"To date, Baltia Air Lines, Inc., Graphite Corp., and 24 Holdings, Inc., have each failed to file an Answer within the time provided"
https://www.sec.gov/alj/aljorders/2018/ap-5752.pdf
If they were working with the SEC, as their web site blurb states, then the SEC would not be stating there has been no response to the letter. So, another outright false statement from Lyin Lampl.
Now the goal post has been moved from May 31 to June 15. If BLTA doesn't respond by then, we can be sure it's game over for sure. If they do respond, we'll have to see what substance they provide. We can be sure nothing short of fully prepared and audited financials will be accepted, though.
If Tony wanted to appease the shareholders, he would have sent a message out as a PR or SH letter. He did neither. He could have filed an 8K upon the SEC suspension. He did not. Why on earth do you think he has any desire to turn this around in the 11th hour at an SEC hearing that will basically chastise him for falling so far behind?!
The financials should have been filed when he said the audits were complete on Nov 30, 2017. He did not, despite a veiled promise to do so.
He should have stepped up and given the shareholders some updates between Nov 30 and May 7. He did not, despite a promise to be transparent.
The likely scenario is that he's long gone and letting this die. You'll never see him again. If you lost a lot of money in this scam, I really do feel bad for you but it's gone. It was a bad investment. Move on, or band together and file a law suit. Nothing you say on a forum like IHUB or IHANGOUT will change the outcome.
Yes, someone knows something is coming. And that's Tony and all the other snake oil salesmen that have been pumping this stock. They know that "something" is the end. Not sure what you define as "precipitous", but a 33% drop is precipitous in most portfolios. Imagine if the Dow dropped 33% in a day.
Monroe1 Member Level Wednesday, 05/23/18 04:09:29 PM
Re: phl08 post# 100268 0
Post # of 100278
Somebody knows something is coming. Who would be buying? This should drop precipitously. Very interesting these are being grabbed up.
We're on target to pass 1M traded today. It's officially into trips land!
Monroe1 Member Level Wednesday, 05/23/18 12:33:36 PM
Re: USGlobal4Life post# 100261 0
Post # of 100267
Would love that opportunity. Let's see if I can get some more down there. Hey, what is taking so long? Could the tide be turning?
Lots of "maybe" and "hopeful" words in your posts Monroe, except when talking about the allegedly corrupt FAA. Yet America has the safest skies in the world that other countries look to our model when developing their own national airspace and regulations for certification of pilots and aircraft.
You should really start looking ahead to May 31 when BLTA has it's day in the halls of the SEC, if they even show up.
And as for trading..."maybe" no brokers want to touch this with a 10 foot pole. Did you consider that?
Monroe1 Member Level Tuesday, 05/22/18 11:26:26 AM
Re: Pennywize post# 100217 0
Post # of 100226
right, but from March 6 to what May 7 is but two months. And as Tony stated they were working with the SEC. Could be the NY office and the Washington DC office were not in communication. This is not unusual among govt. offices. Maybe they are discussing this right about now. Seems we would be trading but not so. There should have been some trades by now, even token ones by some to get the ball rolling down hill. Or else there are more supporters than believed????
I didn't think revocation would potentially happen until at least 5/31 after they've had their SEC hearing?
UAL is up almost 400% since the merger in 2010 and up about 150% in the past 4 years. Any BLTA loyalist would love to have seen those numbers, had they invested in a more mature, stable airline industry where consolidation was inevitable to increase profits. And it has.
EmpireStocks Tuesday, 05/15/18 09:24:47 PM
Re: phl08 post# 99959 0
Post # of 100001
It seems like a far safer investment to buy into existing, stable airlines....The legacies have consolidated to 3 (NW-DL, CO-UA, US-AA), and they're printing money now.
UAL is down -13.9% over the last 12 months.
EOM
It seems like a far safer investment to buy into existing, stable airlines. The industry has shaken out a lot in the last 10 years. The legacies have consolidated to 3 (NW-DL, CO-UA, US-AA), and they're printing money now. The field of point to point and low(er) cost carriers has stabilized as well. If anyone invested what they put into BLTA into one of the establishment airlines that were floundering 15 years ago, they'd be pretty happy with their investment today.
Hindsight, I know. But my point is - I don't see any reason someone would invest in a startup airline with a management team that has the track record these guys do. None of these people have actually run an actual airline. Lampl was a spokesperson for BA, and apparently was good at his job. But he wasn't making any financial or operational decisions. And, what shell of an airline they had to work with, they have totally destroyed.
But hey - if you wanna keep investing in it on the grey - that's your prerogative. High risk, of course, and it will be a very long time before you may see any kind of reward, if you do at all.
The process has been posted here a few times, but even if they show up with all the audited financials filed, they won't leave the grey market. Pinks are a long way off, if they ever happen.
It was also posted elsewhere that the hearing is set for 5/31.
Their local number still rings. 845-787-4670. Nobody answers - just a computer-voice mail box. "Hello, please leave a message after the tone".
I expected something like: "hello and thank you for calling USGlobal Airways. We are hard at work getting this doomed startup to fly, but first we need donations so that we can pay the auditor to settle a few years of delinquent financial reports. Please keep checking the website for updates."
AKthisistheone Monday, 05/14/18 10:51:52 AM
Re: None 0
Post # of 99863
Number is not in service...thats the thanks we get for helping pay for those audits Tony!!!
Tony has officially abandoned us shareholders I am upset
Integral wouldn’t have been the single driving force behind the SEC action, if he even filed a complaint. There have been a lot of concerned shareholders with recent events and Baltia’s lack of financial transparency, not to mention misleading investors 6 months with a very specific statement that the audits were complete. If I had to guess, there is quite a thick folder about BLTA on someone’s desk at the SEC.
I guess it depends what the penalties are for not showing up. They've dodged compliance for so long already.
Showing up with financials, or better yet - filing them sooner - is a first step. That won't get them back to the pink sheets though.
Monroe1 Member Level Friday, 05/11/18 11:36:42 AM
Re: phl08 post# 99734 0
Post # of 99738
What are the chance of them not showing up?
What happens if the show up with financials in hand?
But the comments from the company said the deal would close "no later than October 15", which was a Sunday. Unless they were handing a bag of cash over on a Sunday, then the deal would have had to be complete by Friday the 13th. Integral's point was more about basic research should have been done when the company made the statement in the first place.
mysterymeat Friday, 05/11/18 11:26:57 AM
Re: integral post# 99716 0
Post # of 99734
The non refundable deposit was released by 9/1/2017 which was a Friday.
Do you have any details about the hearing? Date, time, place, etc. What happens if nobody from BLTA shows up?
integral Member Level Friday, 05/11/18 11:20:39 AM
Re: None 0
Post # of 99732
There is a hearing set this month for all four registrants listed in the order with an ALJ. Fairly certain Enforcement at the SEC has compelling information to revoke this one, which includes every correspondence, telephonic conversations, and every documented signatures.
This one is on a fast track.
JetBlue took to the skies in 2000 with 2 destinations - Buffalo and Ft. Lauderdale. The corporate structure was formed about 2 years prior to that. Investors lined up, they bought new planes and captured a market that didn't previously exist - domestic flights out of JFK to serve the HUGE New York market. Who'da thought?!
In contrast....BLTA formed in 1989 and never flew a single mile. You tell me what the barrier was when other airlines did the same thing during the same period of time.
I have no idea how after 29 years, you can't get a plane off the ground. I almost want to start an airline to prove it's probably not that difficult. Who's with me? haha